$BTC failed to hold steady as U.S. stocks edged lower. After U.S. markets opened last night, they continued to fall, and around 8:30 this morning, a new low of about 70688 was seen.
Binance spot is currently around 70965, down about 3.71% over 24 hours. Compared with the low of about 72234 reached by the 15-minute candle at 21:00 last night, it has fallen another roughly 1,500. $ETH has been relatively resilient: its low last night was about 1983.82, this morning's 8:30 low was about 2000.75, and it is currently around 2011, down about 1.94% over 24 hours.
At 21:30 last night, the U.S. Department of Labor reported 200,000 initial jobless claims for the week ending November 7, up 9,000 from the revised previous figure of 191,000 (revised up from 189,000) and above the roughly 195,000 expected in a Reuters poll. Yahoo Finance showed that U.S. stocks closed at 7592.40 (-0.35%) for the S&P 500, 25366.09 (-0.39%) for the Nasdaq, and 52297.09 (-0.36%) for the Dow. BTC, however, fell to around 71293 during the 22:00–23:00 U.S. market open, rebounded to around 72223 overnight, then weakened again.
Farside's November 12 data is incomplete. The U.S. spot BTC ETFs reported so far saw combined net outflows of about $41.6 million (BITB about -$26.4 million, ARKB about -$18.5 million, MSBT about +$3.3 million; IBIT, FBTC, and others have not reported). The reported ETH ETF portion showed net outflows of about $5.5 million. For complete data, we still have to look back to November 11: BTC about -$299.8 million and ETH about -$144.8 million.
Tonight at 21:30, the BLS will also release October PPI (Econoday expects about +0.4% month over month overall and +0.3% for core, versus previous figures of +1.3% and +0.7%). Do you think this drop to around 70,000 looks more like a reaction to higher-than-expected initial jobless claims, or is the market already pricing in tonight's PPI?
Data sources: Binance spot, U.S. Department of Labor, Reuters, Yahoo Finance, Farside, BLS, Econoday. This is not investment advice.
#PPI #InitialJoblessClaims
Binance spot is currently around 70965, down about 3.71% over 24 hours. Compared with the low of about 72234 reached by the 15-minute candle at 21:00 last night, it has fallen another roughly 1,500. $ETH has been relatively resilient: its low last night was about 1983.82, this morning's 8:30 low was about 2000.75, and it is currently around 2011, down about 1.94% over 24 hours.
At 21:30 last night, the U.S. Department of Labor reported 200,000 initial jobless claims for the week ending November 7, up 9,000 from the revised previous figure of 191,000 (revised up from 189,000) and above the roughly 195,000 expected in a Reuters poll. Yahoo Finance showed that U.S. stocks closed at 7592.40 (-0.35%) for the S&P 500, 25366.09 (-0.39%) for the Nasdaq, and 52297.09 (-0.36%) for the Dow. BTC, however, fell to around 71293 during the 22:00–23:00 U.S. market open, rebounded to around 72223 overnight, then weakened again.
Farside's November 12 data is incomplete. The U.S. spot BTC ETFs reported so far saw combined net outflows of about $41.6 million (BITB about -$26.4 million, ARKB about -$18.5 million, MSBT about +$3.3 million; IBIT, FBTC, and others have not reported). The reported ETH ETF portion showed net outflows of about $5.5 million. For complete data, we still have to look back to November 11: BTC about -$299.8 million and ETH about -$144.8 million.
Tonight at 21:30, the BLS will also release October PPI (Econoday expects about +0.4% month over month overall and +0.3% for core, versus previous figures of +1.3% and +0.7%). Do you think this drop to around 70,000 looks more like a reaction to higher-than-expected initial jobless claims, or is the market already pricing in tonight's PPI?
Data sources: Binance spot, U.S. Department of Labor, Reuters, Yahoo Finance, Farside, BLS, Econoday. This is not investment advice.
#PPI #InitialJoblessClaims